LSV Asset Management Increases Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Key Points

• LSV Asset Management increased its stake in Helmerich & Payne by 16.8% in Q1, acquiring 216,560 shares, bringing its total ownership to approximately 1.51% of the company valued at $39.3 million.
• Analysts have recently downgraded their price targets for Helmerich & Payne, with Goldman Sachs and Barclays both setting targets of $17.00, indicating a bearish outlook with multiple sell ratings issued.
• The company plans to issue a quarterly dividend of $0.25 per share, which translates to an annualized yield of 6.5%, demonstrating solid returns for investors despite recent stock performance challenges.

LSV Asset Management grew its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 16.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,504,671 shares of the oil and gas company's stock after purchasing an additional 216,560 shares during the period. LSV Asset Management owned 1.51% of Helmerich & Payne worth $39,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HP. Victory Capital Management Inc. increased its holdings in shares of Helmerich & Payne by 28.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock valued at $92,809,000 after acquiring an additional 786,250 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Helmerich & Payne by 1.0% in the fourth quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company's stock worth $111,654,000 after buying an additional 35,013 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Helmerich & Payne by 5.1% during the 4th quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company's stock worth $54,414,000 after buying an additional 82,254 shares during the period. The Manufacturers Life Insurance Company grew its stake in Helmerich & Payne by 9.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,270,321 shares of the oil and gas company's stock valued at $40,676,000 after buying an additional 109,035 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Helmerich & Payne in the 4th quarter worth $28,708,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Price Performance

Shares of HP stock traded up $0.49 on Thursday, hitting $15.98. 3,961,597 shares of the stock traded hands, compared to its average volume of 1,965,682. The firm has a 50 day simple moving average of $16.53 and a two-hundred day simple moving average of $21.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.46. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 7.30 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. Helmerich & Payne had a return on equity of 8.25% and a net margin of 7.15%. The business's revenue was up 49.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. As a group, equities research analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 6.3%. Helmerich & Payne's dividend payout ratio (DPR) is presently 45.66%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HP. Citigroup restated a "neutral" rating and set a $17.00 price target (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Wall Street Zen downgraded shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays reduced their price objective on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Susquehanna dropped their price target on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group cut their target price on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Helmerich & Payne has an average rating of "Hold" and an average target price of $23.10.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) NYSE: HP is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.